X-Rite announces new CEO

X-Rite, Inc. has announced the implementation of the planned CEO succession which was outlined at the time of the January announcement of the Amazys acquisition. Effective October 1, 2006 Michael C. Ferrara will retire from his positions of CEO and member of the board and Thomas J. Vacchiano Jr. will become president and CEO as well as a member of the board of Directors. Tom Vacchiano was the president and CEO of Amazys Holding AG from January 2001 until the acquisition by X-Rite in July of this year. Mr Ferrara will remain available to consult on the transition through the end of this year.

‘The CEO transition was planned as a part of the Amazys acquisition and the timing of the change permits the new leadership team to develop and own the 2007 operating plan,’ stated John E. Utley, chairman of the board. ‘Further, we expect that this clarity of leadership will facilitate the progress of our integration effort.’ 

‘The X-Rite Board is delighted to have Tom Vacchiano as X-Rite’s new CEO’, continued Utley. ‘His extensive experience in technology companies together with his current track record of creating exceptional value for Amazys shareholders over the last several years is impressive. The Board believes that his vision and leadership are well aligned with the challenges of leading X-Rite to the next level of performance’.